NEA-IndoUS Ventures has made two investments in India. The firm has put in money in the proposed Indian operations of US-based mobile payments company Obopay and personalized search engine firm Minekey, which was incubated in IIT-Kharagpur. NEA-IndoUS Ventures is being led by Vinod Dham, of Intel Pentium fame, and Silicon Valley serial entrepreneur Vani Kola. While financial details on the investments were not given, sources said that they run into a few million dollars.
The investments have been made from the India specific fund currently being raised by the firm, reportedly in the $105-150 mn range. It is partnering with US VC firm New Enterprise Associates (NEA) in branding and sharing of best practices. The two will also partner for joint investments in BPO / KPO large deals.
The investment focus of the fund will be on technology and IT-enabled services for early and mid stage companies, in sectors like mobile services, digital media and content, telecom & enterprise, BPO/KPO, semiconductor, software products & services, education, engineering design services and healthcare. A majority of the investments would be in $1-10 mn range.
Read The Economic Times article.
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